Last summer’s Paris Olympics was a major success for NBC, driving record-breaking ratings and attracting more advertisers than the 2016 Rio Games and 2020 Tokyo Games combined. According to NBC, digital ad revenue from the Paris Games more than doubled that of Tokyo, setting a new all-time high for NBCUniversal.
Aiming to sustain its momentum, Comcast NBCUniversal has secured a $3 billion agreement with the International Olympic Committee (IOC), ensuring the Olympics remain on NBC and Peacock through 2036. (No word yet on whether Snoop Dogg will reprise his now-iconic sideline reporter role.)
The agreement grants NBC the broadcast and streaming rights for the 2034 Winter Games in Salt Lake City and the 2036 Summer Olympics, extending its current contract, which runs through 2032, when the games will take place in Brisbane, Australia.
Comcast Chairman and CEO Brian Roberts stated, “We are honored to continue leveraging our company’s expertise in content creation and distribution to engage Americans, while also introducing even more innovative technological support and solutions to the IOC […]”
Bruce Gil of Quartz noted that the $3 billion deal “highlights the increasing significance of live events for media companies—including streaming giants like Netflix—as they seek to capitalize on the massive audiences and advertising opportunities these programs offer.” Similar to NFL games, the NBA, and the highly anticipated Jake Paul/Mike Tyson fight, TV networks and streaming platforms are investing millions in broadcasting rights to attract new subscribers and boost ad revenue.
